FM Sitharaman launches National Monetisation Pipeline for 'new infrastructure creation'

Finance Minister Nirmala Sitharaman launched the Centre’s National Monetisation Pipeline (NMP) on Monday, August 23. This is a four-year plan staked at Rs 6 lakh crores for monetising infrastructure assets across sectors from rail to road to power. A book on National Monetisation Pipeline was also released by the finance minister in the presence of NITI Aayog CEO Shri Amitabh Kant, Vice Chairman Dr. Rajiv Kumar, and secretaries of ministries whose assets would come under the monetisation pipeline.

Pipeline to only include government owned brownfield assets

Finance Minister Nirmala Sitharaman had suggested implementation of the National Monetisation Pipeline plan in the previous years budget. She iterated that the current budget was in line with the ongoing COVID-19 pandemic and the economy had a serious challenge. She said that this challenge was taken as an opportunity for economic revival. Laying out this Rs. 6 lakh crore plan to monetize the assets and further use it to boost the infrastructure, Finance Minister Nirmala Sitharaman said, "This pipeline will only include brownfield assets owned by the government and will not include land assets of the government." The ownership of the brownfield assets will remain with the government and a mandatory handback of assets at a stipulated time will be assured. The Finance minister assumed, "This will unlock the resources of the economy and this is what we want." 

Finance Minister Sitharaman asks central ministries to gear up actively

Finance Minister Nirmala Sitharaman assured, "By bringing in private participation, we are going to monetize it (assets) better and will be put in further investment into infrastructure building. For those who have this question in mind are we selling away the lands? No. The National Monetisation Pipeline is talking about brownfield assets that need to be better monetized." The finance minister added, "The underlying part is we have talked to the states, secretaries of the concerned places are going to take up the project whether it is a sports area or urban properties. The Central ministries and asset owning industries now only need to be geared up towards actively implementing the asset monetization plan.

Image: PTI